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Selling pressure ramped up on Wall Street yesterday to scupper the risk recovery. The USD is again in the ascendancy and equity indices are under downside pressure.
A hint of a USD correction was snuffed out into the close yesterday and markets are now focusing squarely on the US inflation data later today. After a disappointing close on Wall Street, US futures are looking to build support again.
As we come to the end of Q2, the USD is strengthening once more. This is testing some crucial levels on major forex pairs.
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